Fino Payments Bank reported a mixed performance in its October 2026 business update, with average deposits rising 9% year-on-year (YoY) even as transaction business throughput and new deposit account openings declined.
Average total deposits increased to ₹2,886 crore in October from ₹2,654 crore in the corresponding month last year. The bank also crossed the ₹3,000-crore mark in total deposits for the first time, reaching a peak of ₹3,044 crore on October 17.
The bank opened 2.30 lakh deposit accounts during the month, down 19% from 2.82 lakh accounts a year earlier.
Renewal income increased 4% YoY to ₹23 crore from ₹22.2 crore. However, transaction business throughput fell 18% to ₹3,541 crore from ₹4,329 crore in October 2025.
Fino Payments Bank’s Cash Management Services (CMS) business continued to grow, with throughput increasing 12% YoY to ₹7,514 crore from ₹6,732 crore. The bank said this was its highest monthly CMS throughput since October 2024.
Digitally active customers increased 12% to 65.1 lakh from 58.1 lakh a year earlier. FinoPay active customers rose marginally by 2% to 7.6 lakh from 7.5 lakh.
Loan referral disbursals recorded a sharp increase of 316% YoY to ₹301 crore in October, compared with ₹72 crore in the year-ago period.
The bank attributed the growth to sustained business momentum and said it reflected increasing readiness for its transition to a Small Finance Bank (SFB).
In digital payment services, business-to-business Unified Payments Interface (UPI) person-to-merchant (P2M) throughput was nil in October 2026, compared with ₹1,115 crore in October last year.
Fino Payments Bank October update: Deposits cross ₹3,000 crore for first time; loan disbursals jump 316%